Entrepreneurs perfectly know that deep understanding of a target market is crucial since lack of thorough analysis or study of it will affect the outcome of the business. Worst is, it could lead to business failure. Good thing, there are different theories, business models and other business tools that you can study and apply. You can gain inspiration from the story of a successful entrepreneur in the same field of business or even those who are into different fields yet you could relate to. But aside from this, it will be helpful if you know how to organize your thoughts or ideas. Fortunately, there are PowerPoint tools like SmartArt graphics that you can use.
Hierarchy List SmartArt To Help Analyze Market Segments
One of the SmartArt graphics in powerpoint that you can use is the Hierarchy List wherein you can show the main text and sub-texts related to the main text. But what makes the said graphic effective is that you can use it to organize your data or information clearly and effectively.
As shown above, the information on market segmentation was presented using the Hierarchy List SmartArt, hence you will be able to clearly see the important points below the main text. Taking for example the Geographic Segmentation, (which is just one of the many types), shows some of the important points that you and other entrepreneurs need to consider when deciding as to where you will sell your product or offer your services.
Once you have specified the area or location where you will set up your business and sell your products, you will know how many out of the 100,000 or 1 million population will be your prospective clients. For example, if you are selling clothes for teens with age that range from 13 to 18, knowing the population of the city and the demographics of the said city will be crucial in the formulation of your business strategies.
Demographics And Price Segmentation To Determine Target Market
As previously mentioned, understanding the target market by utilizing the Types of Market Segmentation will help you focus on your marketing and business efforts for your prospective clients. It will be possible and feasible that you can carve a niche in the market for your small business. Hence, knowing the age, gender, education and other information of your target clients will help you come up with strategies that will appeal to their sensibilities and interests.
Least to say, clothing line with mostly black or dark toned colors will not be appealing to 13 year olds while pastel colored jeans and tees will not appeal to 60 year olds. But aside from Demographic Segmentation, another important type is the Price segmentation since this will aid you determine if the price of your product is affordable to your target clients. For example, a clothing line for teens that costs $500 and up a piece will not in any way appeal to the your target market, who are aged 13 to 18 because of the obvious reason that they do not have the financial capacity to buy your products.
Apart from the above-mentioned types of market segmentation, there are other types that you might find useful like”
…and other types that might help you know your business and the market that you will tap to sell your products or services.
In a nutshell, there are lots of SmartArt graphics in powerpoint that you can use to present different types of business information and processes like Hierarchy List. And oh! You can use photos or graphics too, since this will make your powerpoint presentations more interesting, right?